Posted on 01/28/2021 2:52:35 PM PST by srmanuel
If you have been following the Wall Street rebellion being led by Internet Trolls on Reddit, you might appreciate this...A lot of these retail traders were using the App Robinhood to drive up the price of Gamestop, today Robinhood suspended buying of the stock, but allowed selling...Reddit went crazy and guess what, in no time a class action lawsuit has already been filed in the Southern District of NY.....just incredible..
Worse, from what I gather, they stopped out trading positions without warning.
LOL!
The elites call free marketers Internet Trolls.
Twitter calls those that love the US Violent terrorists.
The great awakening is here.
Jan 6th shall soon look like a peaceful Sunday picnic soon.
If not then we deserve becoming Venezuela.
Yep. Snowball and Hell are two words that come to mind...
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And so they should
One of the basic principles of tort law is that you have show an actual loss in order to successfully sue for damages.
I can see how a broker or dealer or intermediary would have legal exposure if they didn't let their customers SELL their equities in a timely manner, but how do you prove you lost anything if they refuse to let you BUY shares?
They stopped all buying and only allowed selling when it was at $340 or so, they then SOLD Investors Shares for $118 without asking them and STOLE THEIR VALUE, They should have been SWAT Raided when this broke.
Yes. Several platforms.
Worse, from what I gather, they stopped out trading positions without warning.
I’m naïve about why the southern district of NY is a lol. Is it the location that they filed the class action suit is swayed toward the hedge fund management companies?
GamerGate II: Electric Boogaloo!
The “media” have been calling them “racists, Nazis, and white supremacists” for two days. 🙄
By stopping the proles from buying the stock, they have managed to push the price down today stripping down about half of the value. It is creeping up in after hours trading, but that may be the big boys (almost typo’ed ‘pig’ instead of ‘big’, that would have worked as well) taking advantage of the dip to cut their losses.
I have no skin in this game, but it’s more exciting as a spectator sport than what you see on ESPN these days.
This just keeps getting better. RH will allow trading tomorrow. This should be fun.
Be prepared for Venezuela then because all I see are, including myself, a bunch of cowards whom the founding fathers would be terribly embarrassed of.
The revolution was fought for a lesser reason than we have.
I guess men were more courageous then or valued their liberty more
I refer to them as Internet Trolls as a term of endearment because I support them and wish them well, sort of like I had no issue being called deplorable....
That was margin calls and liquidation. What happens is people who don’t really know what they are doing, having bad things happen to them, and they don’t know why.
There is no excuse for that. But RH did a crappy job telling their clients what was happening.
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